A rural insurtech startup Gramcovers and the Agriculture Insurance Company of India Limited(AICIL) have partnered to develop the insurance penetration in rural India.
Objective:
i.The main objective of this partnership is to identify and develop useful rural insurance products that could help farmers.
ii.It┬а also aims to increase the insurance coverage in rural parts of India.
Highlights:
- Initially they will work on market research to identify and develop new insurance products that will help farmers in protecting their livelihood.
- This tie up will improve the claim payment turnaround time and develop underwriting and will ensure quick settlement of claims.
- Under this partnership they have planned to reach around 25 million farmers.
About Agriculture Insurance Company of India Limited (AICIL):
Establishment: 20th December 2002 under the Indian Companies Act 1956
Chairman and Managing Director: Malay Kumar Poddar
Headquarters: New Delhi
About Gramcover:
Chief Executive Officer: Dhyanesh Bhatt
Headquarters: Noida,Uttar Pradesh
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